Agenda Date: 04/02/2024
Subject:
Title
Resolution 34-2024: Approving an Intergovernmental Agreement between the City of Littleton and the Littleton Downtown Development Authority (LDDA) for Downtown Development Authority Support and Services
Body
From:
James L. Becklenberg, City Manager
Prepared by:
Kathleen Osher, Assistant City Manager
Presentations:
Jenny Starkey, Starkey Strategies, LDDA Interim Director
PURPOSE:
Council review and approval of the agreement outlining the cooperation between the city and LDDA.
LONG-TERM OUTCOME(S) SERVED:
Vibrant Community with a Rich Culture; Robust and Resilient Economy
DISCUSSION:
The attached Intergovernmental Agreement is the continuation of the partnership formed last year between the city and the LDDA. The agreement outlines LDDA duties and city duties for the working relationship between the two entities. This is the second IGA between the city and the LDDA and the agreement has added the following:
* Recognition of the exclusive use of certain Sternberg lights including the maintenance and upkeep of the brackets and banners.
* Quarterly reports to the LDDA identifying sales tax increment revenues received by the city for the benefit of the LDDA, and the transfer of revenues to an account designated by the LDDA on an annual basis.
* The annual budgeting process, which includes certifying a mill levy appropriation on behalf of the LDDA consistent with the budget adopted by the LDDA and approved by the City Council. The Parties agree that the deadline for the LDDA to submit a draft budget to the city shall be extended from July 31st to September 13th in calendar year 2024, in order for the LDDA to have the benefit of a preliminary assessed valuation report in formulating its budget.
* The city's 2024 contribution to support LDDA operations will be $193,517.
BACKGROUND:
The LDDA Board approved the proposed IGA with the City of Littleton at its March 20, 2024 meeting. The attached IGA was prepared by LDDA counsel ...
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